Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, leveraging established price movements for profitable trades [1] Company Overview: Corporacion America Airports S.A. (CAAP) - CAAP currently holds a Momentum Style Score of B, indicating a favorable momentum characteristic [1] - The company has a Zacks Rank of 1 (Strong Buy), which is associated with a strong historical performance in the market [2] Performance Metrics - Over the past week, CAAP shares increased by 6.43%, while the Zacks Transportation - Airline industry saw a decline of 0.11% [3] - In a longer timeframe, CAAP's monthly price change is 5.51%, outperforming the industry's 4.21% [3] - Over the past quarter, CAAP shares rose by 8.02%, and over the last year, they gained 57.63%, compared to the S&P 500's increases of 3.41% and 35.3%, respectively [3] Trading Volume - CAAP's average 20-day trading volume is 110,835 shares, which serves as a bullish indicator when combined with rising stock prices [4] Earnings Outlook - In the last two months, one earnings estimate for CAAP has increased, while none have decreased, raising the consensus estimate from $0.96 to $1.02 [5] - For the next fiscal year, one estimate has also moved upwards with no downward revisions [5] Conclusion - Given the positive performance metrics and earnings outlook, CAAP is positioned as a strong buy candidate with a Momentum Score of B, making it a potential pick for investors seeking short-term gains [5]

Financial Data and Key Metrics Changes - Total revenues ex-IFRIC12 remained stable year-on-year despite lower passenger traffic, with aeronautical revenues up 3% driven by higher international passenger traffic in Italy, Uruguay, and Argentina [10][11] - Adjusted EBITDA ex-IFRIC12 declined 9% year-on-year to $136 million, primarily due to challenges in Argentina, although Italy and Uruguay showed double-digit growth in adjusted EBITDA [12][14] - Total cost and expenses ex-IFRIC12 increased 6% year-on-year, reflecting inflationary pressures in Argentina [12] Business Line Data and Key Metrics Changes - Revenues per passenger ex-IFRIC12 increased 9% year-on-year to $20.1, indicating effective adaptation to market dynamics [11] - Commercial revenues decreased 3% year-on-year, impacted by lower cargo and duty-free revenues in Argentina [11] - Cargo volumes increased in the mid-single digits year-on-year, but cargo revenues declined 13% due to lower revenues in Argentina [9] Market Data and Key Metrics Changes - Total passenger traffic declined 5% year-on-year, with a 15% contraction in domestic traffic in Argentina, while international traffic increased by 8% [5][7] - In Italy, passenger traffic grew 14% year-on-year, driven by a 17% rise in international traffic [6] - In Uruguay, traffic increased by 11% due to new routes and frequencies [6] Company Strategy and Development Direction - The company is negotiating a $400 million CapEx plan with the Armenian government and seeking approval for a new master plan for Florence Airport in Italy [16] - The company is assessing expansion projects across various geographies to pursue value creation [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the positive dynamics in Uruguay and Italy continuing throughout the year, while domestic traffic in Argentina is expected to remain soft due to recession [17] - Recent open skies bilateral agreements are expected to enhance flexibility and stimulate growth in Argentina's aeronautical activities [17] Other Important Information - The company closed the quarter with a total liquidity position of $549 million, up $91 million from year-end 2023 [13] - The net leverage ratio improved to 1.1 times, down from 1.4 times at year-end [13] Q&A Session Summary Question: Update on discussions with airlines regarding new routes and higher frequency due to deregulation - Management is positive about the effects of deregulation and bilateral agreements on traffic growth, expecting significant long-term benefits [19][20] Question: Development of the cost base in Argentina for the rest of the year - Cost trends are expected to soften in the third quarter, with adjustments needed due to inflation [22] Question: Investment opportunities beyond Nigeria and Armenia - The company submitted a proposal for Luanda Airport in Angola and pre-qualification documents in Saudi Arabia, with other opportunities being explored [24] Question: Update on tariff discussions in Argentina - Domestic tariffs are expected to be adjusted soon, with a rebalancing of the economic equilibrium of the concession anticipated by the end of the year [28][30] Question: Update on the master plan discussion in Italy - The process is active, with a deadline for responses to questions set for October [29]

Second Quarter 2024 Earnings Call Presentation August 22, 2024 Second Quarter 2024 Disclaimer and Forward-Looking Statement | --- | --- | --- | |-------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Corporacion America (NYSE:CAAP) just reported results for the second quarter of 2024. Corporacion America reported earnings per share of 31 cents. This was below the analyst estimate for EPS of 32 cents. The company reported revenue of $416.20 million. This was 5.80% worse than the analyst estimate for revenue of $441.82 million. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including ...

Exhibit 99.1 Condensed Consolidated Interim Financial Statements At June 30, 2024 presented in comparative format Index Glossary of terms Condensed Consolidated Interim Financial Statements Consolidated Statements of Comprehensive Income Consolidated Statements of Financial Position Consolidated Statements of Changes in Equity Consolidated Statements of Cash Flows Notes to the Condensed Consolidated Interim Financial Statements Summary of Information requested by Resolution N° 368/01 of the National Securit ...

It's not been a great year for transportation stocks. There are several reasons for this. For one, the transportation ETF has investments in airlines and electric vertical takeoff and landing (eVTOL) companies, both of which have seen heavy volatility recently. In addition, broader macroeconomic concerns have caused investors to worry about falling freight volumes for cargo transportation companies. FedEx (NYSE:FDX) is a gigantic transportation company primarily engaged in parcel delivery services. With ann ...

Franco Ercolino/iStock Editorial via Getty Images Airport stocks are part of my coverage which includes aerospace, defense, airlines, airplane and engine lessors and airlines providing one of the broadest coverages available on Seeking Alpha for aerospace & defense and all related industries. In each of these industries, I am expanding my coverage. In this report, I am expanding my coverage for airport stocks by adding Corporacion America Airports (NYSE:CAAP) to my coverage. I believe that airport stocks pr ...

Financial Data and Key Metrics Changes - Total revenues excluding IFRIC increased by 12.4% year-on-year, significantly outpacing the 4.3% growth in passenger traffic [56] - Adjusted EBITDA reached $163 million, up 16.4% year-on-year, with a margin expansion of 1.5 percentage points to 41.7% [8][34] - Net debt decreased to $821 million from $964 million at year-end 2023, resulting in a net leverage ratio reduction to 1.2 times from 1.4 times [9] Business Line Data and Key Metrics Changes - Aeronautical revenues increased by 19.4% year-on-year, driven by higher international passenger traffic in Argentina and tariff increases in Uruguay [56] - Cargo volumes were up in the low single-digits year-on-year, with cargo revenues increasing by 6% across all countries of operation [6][8] Market Data and Key Metrics Changes - Passenger traffic in Italy rose nearly 14% year-on-year, primarily due to a 17% increase in international traffic [3] - Uruguay experienced a 29% increase in traffic, benefiting from new routes and frequencies [4] - Traffic in Brazil declined nearly 2% year-on-year, impacted by financial constraints at local airlines [5] Company Strategy and Development Direction - The company is focused on expanding its airport network and has secured a 10-year extension of the concession agreement for Punta del Este Airport in Uruguay [18] - Ongoing discussions regarding CAPEX plans in Italy and Armenia aim to support growth initiatives [12][50] Management's Comments on Operating Environment and Future Outlook - Management remains positive about international traffic growth, particularly in Argentina, Uruguay, and Italy, despite challenges in the Brazilian market [49] - The company is actively engaging with local governments to secure necessary approvals for expansion projects [12][50] Other Important Information - The company reported a strong cash flow position with total liquidity of $545 million, up $87 million from year-end 2023 [9] - The ICSID Arbitral Court awarded $91 million to the consortium related to Chinchero International Airport in Peru, in which the company holds a 50% interest [18] Q&A Session Summary Question: Evolution of international traffic into Argentina - Management is optimistic about international traffic growth into Argentina, supported by discussions with airlines and the implementation of open sky agreements [49] Question: Balancing growth, investment, and cash return to shareholders - The company is focused on growing its portfolio and is in discussions regarding CAPEX that will primarily require local leverage rather than equity from shareholders [50] Question: Timing for tariff adjustments in Argentina - Management is awaiting engagement with the newly appointed control agency to gain better visibility on tariff provisions and necessary adjustments [52]

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-----------|-------|-------|-------|-------|-------|-------|-------|-------|-----------|-------|-------|-----------|-------------|--------|-------------|-------|-----------|-------|---------| | 20.0 | | | | | | | | | | | | | | | 10.0 | | | 3.4 3.1 3.1 | | 7.0 \n6.4 | 6.9 | 9.3 7.9 | 3.6 | 9.0 7.2 | | | Jan | Feb | Mar ...

Pgiam/iStock via Getty Images Investment Synopsis Following our last publication on Corporación América Airports S.A. (NYSE:CAAP) in January titled "Excellent Growth On Incremental Capital," shares of the airport operator have lifted 20%. It is time for a review of the investment case. Now following the company's FY'23 annual numbers, the investment runway has extended for CAAP in my view. It posted FY'23 revenues of $1.25Bn, growing 220bps YoY on operating income of $540.6mm, 38.6% margin. Note, these figu ...